Volkswagen AG signed its first loan linked to sustainability goals, a EUR 1.8 Bn (USD 2 Bn) facility meant to help fund projects to reduce the German industrial giant’s carbon footprint. The interest rate on the facility depends on Volkswagen ability to reach specific emission reduction targets.
Intesa Sanpaolo was part of the consortium providing the facility together with Credit Agricole , Banco Santander, Bayerische Landesbank, Commerzbank and Société Générale. Volkswagen AG choose only European banks to strengthen the importance for involving strong European banking groups on a pure European deal and in connection with their European Green bond issuance programme.
Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, acted as Mandated Lead Arranger and Bookrunner of the deal, applying its deep knowledge on ESG topics. The deal adds up to Intesa Sanpaolo’s impressive track record on emission reduction linked financing facilities and proves the leading position of our bank in Italy and in Europe on such topics.
